New venture, Inception 5, reports $5 million raised at first close

Inception 5 received two commitments for its $10 million financing round. Investors committed to buy 50% or $5 million worth of equity on June 6th. $5 million in additional funding can be raised before June 2015 based on the placement’s structure. This is the first time Inception 5 is selling securities under a registration exemption.

The company is a biopharmaceutical company dedicated to the research and development of small molecule remyelinating therapies for patients with multiple sclerosis. The company was created and is backed by Roche and Versant Ventures.

Petpiboon Prasit (President and CEO) leads the San Diego CA based company which was registered in 2013. Inception 5 elected to keep its revenues undisclosed.
The executive team includes Thomas Coll.
The board of directors includes Bradley Bolzon.

Offering recap
Status: First close
Company: Inception 5
Industry: Biotechnology
Amount offered: $10 million
Amount placed: $5 million
First sale: 06-06-2014
Data as of: 06-23-2014

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